Lafayette Life provides life insurance and annuity products to individuals and small businesses through multiple distribution channels. The individual product portfolio includes whole life, senior age whole life, term life, universal life, immediate annuities, and indexed universal life and annuities.

Lafayette Life Insurance specializes in fixed annuities where interest is credited on a regular basis and funds may be available at any time. Clients may be subject to possible withdrawal charges, income taxes and penalties. The plans include:

A very good article in Forbes magazine discusses the many downsides of using group annuity contracts as a wrapper for 401k plans.

This is not to be confused with 401k or defined contribution plans that offer  an annuity option within their plans or an annuity option outside of the plans to participants who are retiring or leaving the company. 

In fact, most of the group annuity wrappers provide no ability to annuitize.

The practice is especially common among 401k plans offered by smaller employers.